I want to buy this duplex, but do the number make sence?

[Daniel Lorence]

I just found a fourplex in Berkeley, CA that is going up for Auction this weekend. I'm very interested in it, I'm just trying to figure out if these numbers make sense and where I can get the cash before I refi.

The starting bid is $350k, but I think it's going to sell for at least 600k. From the 4 units total it's currently getting $4,230/month in rent. (Note that Berkeley is a very strict rent controlled area, so I don't that I'll be able to raise the rent more than 5-10%/year.) I'm thinking I'll move into one of the units too, so the monthly rent income will go down.

I used this property alalyzer worksheet from bigger pockets/chandellier properties, and it's barley braking even if I bought this at 450k with all of the units rented out. Am I doing something wrong or is this deal just not worth it? I' m not sure if the payment numbers and "Add back: Principal payments" numbers are correct. Can someone please look at this for me?

Also for these auction properties what do I need to put down as a down payment? and How fast after the sale do I need to pay them? Any tips on finding a lender to initally front me the cash before refi?

Property Analyzer Excel

Thanks,

-Daniel